Altagas Ltd to Issue Monthly Dividend of $0.08 (TSE:ALA)

Altagas Ltd (TSE:ALA) declared a monthly dividend on Tuesday, September 10th, Zacks reports. Investors of record on Wednesday, September 25th will be given a dividend of 0.08 per share on Tuesday, October 15th. This represents a $0.96 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend is Tuesday, September 24th.

Altagas stock opened at C$19.97 on Monday. The company’s 50 day simple moving average is C$19.02 and its 200 day simple moving average is C$18.92. Altagas has a fifty-two week low of C$11.87 and a fifty-two week high of C$22.36. The firm has a market capitalization of $5.53 billion and a price-to-earnings ratio of 18.20. The company has a debt-to-equity ratio of 108.26, a current ratio of 0.69 and a quick ratio of 0.27.

Altagas (TSE:ALA) last released its quarterly earnings data on Thursday, August 1st. The company reported C($0.02) earnings per share for the quarter, topping the consensus estimate of C($0.10) by C$0.08. The firm had revenue of C$1.17 billion for the quarter, compared to the consensus estimate of C$921.45 million. As a group, analysts predict that Altagas will post 1.18 EPS for the current fiscal year.

A number of brokerages have weighed in on ALA. National Bank Financial lifted their price target on shares of Altagas from C$19.00 to C$20.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 23rd. BMO Capital Markets raised shares of Altagas from a “market perform” rating to an “outperform” rating and lifted their price target for the company from C$21.00 to C$22.00 in a research note on Monday, September 9th. Royal Bank of Canada lifted their price target on shares of Altagas from C$20.00 to C$22.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 23rd. TD Securities lifted their price target on shares of Altagas from C$22.00 to C$23.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Industrial Alliance Securities lifted their price target on shares of Altagas from C$21.50 to C$23.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of C$20.80.

About Altagas

AltaGas Ltd. operates as a diversified energy infrastructure company in North America. The company operates through three segments: Utilities, Midstream, and Power. The Utilities segment owns and operates regulated natural gas distribution utilities in Michigan, Alaska, the District of Columbia, Maryland, and Virginia; and 2 regulated natural gas storage utilities in the United States serving approximately 1.6 million customers.

Further Reading: How does new data get added to a blockchain?

Dividend History for Altagas (TSE:ALA)

Receive News & Ratings for Altagas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altagas and related companies with MarketBeat.com's FREE daily email newsletter.